10-K – 2026-03-12 – R42.htm

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Segment Reporting (Tables)

12 Months Ended

Jan. 31, 2026

Segment Reporting [Abstract]
 

Schedule of Segment Reporting Information
The following table illustrates significant segment expenses that were regularly provided to the CODM in 2025, 2024, and 2023:

2025 2024 2023
  (in millions)
Net Sales $ 7,291  $ 7,307  $ 7,429 
Adjusted Costs of Goods Sold (2,930) (2,880) (2,970)
Buying and Occupancy (1,171) (1,193) (1,223)
Selling Expenses (1,238) (1,191) (1,177)
Marketing Expenses (255) (242) (189)
Adjusted General and Administrative Expenses (541) (535) (585)
Adjusted Operating Income 1,156  1,266  1,285 
Business Transformation Activities (a) (15) —  — 
Leadership Transition Costs (b) (15) —  — 
Reported Operating Income $ 1,126  $ 1,266  $ 1,285 

________________
(a) In 2025, the Company recognized aggregate pre-tax costs of $15 million, resulting from business transformation activities, and primarily related to severance benefits, in connection with the Consumer First Formula, of which $1 million and $14 million were excluded from Costs of Goods Sold and General and Administrative Expenses, respectively, in the Adjusted Operating Income details provided to the CODM.
(b) In 2025, the Company recognized aggregate pre-tax costs of $15 million due to the transition of certain members of the leadership team, primarily related to severance benefits, which were excluded from General and Administrative Expenses in the Adjusted Operating Income details provided to the CODM.

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

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-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
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-URI https://asc.fasb.org/1943274/2147482810/280-10-50-25

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
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Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

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